Skyworks Solutions (NASDAQ:SWKS - Get Rating) had its price target lowered by investment analysts at UBS Group from $133.00 to $110.00 in a report issued on Thursday, Benzinga reports. The brokerage presently has a "neutral" rating on the semiconductor manufacturer's stock. UBS Group's target price would suggest a potential upside of 12.31% from the stock's current price.
A number of other research analysts have also weighed in on the company. Bank of America lowered Skyworks Solutions from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $130.00 to $105.00 in a report on Wednesday, June 29th. KeyCorp decreased their price objective on shares of Skyworks Solutions from $160.00 to $140.00 and set an "overweight" rating for the company in a research note on Tuesday, July 12th. Barclays cut their price objective on shares of Skyworks Solutions from $125.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Monday, July 25th. Susquehanna Bancshares decreased their target price on shares of Skyworks Solutions to $120.00 in a research report on Monday, July 25th. Finally, The Goldman Sachs Group cut their price target on Skyworks Solutions from $120.00 to $97.00 in a research report on Friday, July 15th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $141.30.
Skyworks Solutions Stock Performance
Shares of Skyworks Solutions stock traded down $1.36 during midday trading on Thursday, hitting $97.94. The company had a trading volume of 3,749 shares, compared to its average volume of 1,491,824. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of 12.40, a PEG ratio of 0.86 and a beta of 1.21. Skyworks Solutions has a 12-month low of $88.76 and a 12-month high of $182.24. The company has a quick ratio of 1.47, a current ratio of 2.37 and a debt-to-equity ratio of 0.32. The company has a fifty day simple moving average of $103.70 and a 200 day simple moving average of $112.03.
Skyworks Solutions (NASDAQ:SWKS - Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The semiconductor manufacturer reported $2.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.05 by $0.39. Skyworks Solutions had a net margin of 24.11% and a return on equity of 30.43%. The business had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.23 billion. During the same quarter last year, the company posted $1.96 earnings per share. The business's quarterly revenue was up 10.4% on a year-over-year basis. As a group, analysts predict that Skyworks Solutions will post 9.95 earnings per share for the current fiscal year.
Insider Activity at Skyworks Solutions
In other news, SVP Karilee A. Durham sold 5,858 shares of the company's stock in a transaction on Monday, August 8th. The shares were sold at an average price of $112.26, for a total transaction of $657,619.08. Following the completion of the sale, the senior vice president now owns 10,130 shares of the company's stock, valued at $1,137,193.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.31% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On Skyworks Solutions
A number of institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors increased its stake in Skyworks Solutions by 25.5% during the second quarter. Captrust Financial Advisors now owns 11,142 shares of the semiconductor manufacturer's stock worth $1,032,000 after acquiring an additional 2,262 shares during the last quarter. Walleye Capital LLC increased its position in shares of Skyworks Solutions by 260.6% during the 2nd quarter. Walleye Capital LLC now owns 23,262 shares of the semiconductor manufacturer's stock worth $2,155,000 after purchasing an additional 16,811 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Skyworks Solutions by 34.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 632,531 shares of the semiconductor manufacturer's stock valued at $58,597,000 after buying an additional 161,893 shares during the period. Nomura Holdings Inc. lifted its position in Skyworks Solutions by 126.8% in the second quarter. Nomura Holdings Inc. now owns 10,654 shares of the semiconductor manufacturer's stock valued at $971,000 after buying an additional 5,956 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its stake in Skyworks Solutions by 23.0% during the second quarter. Salem Investment Counselors Inc. now owns 37,173 shares of the semiconductor manufacturer's stock worth $3,444,000 after buying an additional 6,962 shares during the period. 74.61% of the stock is owned by hedge funds and other institutional investors.
Skyworks Solutions Company Profile
Skyworks Solutions, Inc, together with its subsidiaries, designs, develops, manufactures, and markets proprietary semiconductor products, including intellectual property in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and rest of Asia-Pacific. Its product portfolio includes amplifiers, antenna tuners, attenuators, automotive tuners and digital radios, circulators/isolators, DC/DC converters, demodulators, detectors, diodes, wireless analog system on chip products, directional couplers, diversity receive modules, filters, front-end modules, hybrids, light emitting diode drivers, low noise amplifiers, mixers, modulators, optocouplers/optoisolators, phase locked loops, phase shifters, power dividers/combiners, receivers, switches, synthesizers, timing devices, technical ceramics, voltage controlled oscillators/synthesizers, and voltage regulators.
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